Tension

It’s the price, stupid! At least that seemed to be the underlying theme and tension for a supplier/marketer/end-users discussion of demand-side issues facing gas purchasers at GasMart 2008 in Chicago last Wednesday.

It’s the price, stupid! At least that seemed to be the underlying theme and tension for a supplier/marketer/end-users discussion of demand-side issues facing gas purchasers at GasMart 2008 in Chicago Wednesday.

After discovering “structural anomalies” in late March at its oil and natural gas Neptune tension leg platform (TLP) in the Gulf of Mexico, BHP Billiton said it is performing remediation work to reinforce certain structural components in the hull’s pontoons.

After discovering “structural anomalies” in late March at its oil and natural gas Neptune tension leg platform (TLP) in the Gulf of Mexico, BHP Billiton said Monday it is performing remediation work to reinforce certain structural components in the hull’s pontoons.

Australian producer BHP Billiton has begun assessing how to repair its Neptune tension leg platform (TLP) in the deepwater Gulf of Mexico (GOM) after discovering “structural anomalies” last week.

Shell Exploration & Production Co. said last week that the Mars Tension Leg Platform (TLP) is currently producing 190,000 boe/d (gross), which is a 20% increase over pre-Katrina rates. As announced in late May, the Mars TLP resumed production ahead of schedule earlier this summer and was even producing slightly above its pre-Katrina rates in July (see NGI, May 29).

Shell Exploration & Production Co. reported it has resumed partial production flows from its Mars Tension Leg Platform (TLP), the largest producing platform in the Gulf of Mexico. The platform was shut-in due to damage from Hurricane Katrina last August.

Shell Exploration & Production Co. said Wednesday that the Mars Tension Leg Platform (TLP) is currently producing 190,000 boe/d (gross), which is a 20% increase over pre-Katrina rates. As announced in late May, the Mars TLP resumed production ahead of schedule earlier this summer and was even producing slightly above its pre-Katrina rates in July (see Daily GPI, May 23).

Continued strength from the tension-filled petroleum sector combined with warmer than normal temperatures in the southern regions of the U.S. worked to buoy natural gas futures Tuesday as May natural gas finally broke out of its recent $6.65-7.65 trading range. Following a high of $8.10 in afternoon trading, the prompt month went on to settle at $8.008, up 43.1 cents on the day, bringing the week’s two-day total gain to 87.3 cents.